Industry News

iGaming Industry In 2023 – What We Should Expect

Published

9 months ago

January 13, 2023

iGaming Industry In 2023 - What We Should Expect

Reading Time: 3 minutes

The iGaming industry has seen rapid growth in recent years, with the global market reaching over $60 billion in 2020. This was due to a number of factors such as increasing internet access and smartphone penetration worldwide, new technologies that have made online gaming more accessible than ever before, and an increased acceptance of gambling activities by governments around the world.

The popularity of iGaming is further enhanced by its convenience. Players can enjoy games from anywhere at any time without having to travel or wait for opening hours. Additionally, it offers a wide variety of options including slots, table games, sports betting, and live dealer experiences which appeal to different types of players across all ages and backgrounds – making it one of the most popular forms of entertainment today.

As during these recent years iGaming has had amazing results, 2023 forecasts are pretty positive. In this article, we will try to show you a detailed picture of iGaming industry trends and conditions during 2022 and outline some predictions for the next year which will affect your gaming experience. So make sure you check all the details down below!

iGaming Industry In 2022 – A Quick Overview

As we mentioned before, 2022 was a pretty positive year for the iGaming industry. Companies saw a major surge in popularity as more people turned to online gaming for entertainment. The rise of mobile gaming and new technologies such as virtual reality (VR) and augmented reality (AR) were some of the main trends that drove growth in this sector. Additionally, esports tournaments gained tremendous traction with millions tuning in to watch them live or streaming on platforms like Twitch.

There was also an increase in interest from traditional sports betting companies who began offering their services online while leveraging technology to create innovative products such as fantasy leagues. Finally, cryptocurrency-based gambling sites became increasingly popular due to their anonymity and low transaction fees compared to traditional payment methods like credit cards or e-wallets. There are many types of iGaming websites and services such as Coinplay bitcoin slots, Draftkings fantasy football betting, and others. So these diverse alternatives made 2022 a great year for the industry as well as forecasts.

On the other hand, there were some challenges during 2022 in the iGaming industry that were largely caused by a lack of regulation and an increase in competition. It was not a common problem for the whole world’s market but for some areas. With more players entering the market, companies had to find ways to differentiate themselves from their competitors while still providing a safe and secure gaming experience for users. This often meant that companies needed to invest heavily in marketing, customer service, and technological advancements such as AI.

Additionally, due to the lack of clear regulations on online gambling activities across different jurisdictions, it was difficult for operators to ensure legal compliance with local laws. As a result of these issues, many operators struggled financially or even went out of business entirely throughout 2022.

During this overview, it is also needed that the current year is very active when it comes to partnerships. These included collaborations between leading software providers such as Playtech and Microgaming to create new online games that are more accessible to players around the world.

Also, several operators joined forces with payment service providers in order to offer customers better banking options when playing their favorite games online. The most notable partnership of 2022 was an agreement between game developer NetEnt and casino operator 888Casino which allowed players access to some of the best slot titles available on any platform at that time. This partnership has since gone from strength to strength, providing gamers with even more entertainment choices than ever before!

2023 Predictions – iGaming Has Great Prospects

Experts predict that the iGaming industry in 2023 will be much safer due to a new regulatory environment from the EU. This is because stricter regulations are expected to be implemented, such as increased customer protection measures, more stringent anti-money laundering checks, and improved data security protocols. These measures should help protect customers from fraudsters and ensure their personal information remains safe.

Additionally, operators will also need to adhere to tighter advertising rules which should reduce inappropriate content being exposed on digital platforms such as social media sites or gaming apps. As a result of these changes, it is likely that confidence in online gaming services will increase significantly over time leading many more people to play safely online by 2023 than ever before.

On the other hand, it is expected that the iGaming industry will increase dramatically in the USA too as their betting and gambling become more legal than it was in 2022. On the other hand, many provider companies have already started working on new game portfolios which will increase the diversity for gamblers.

To conclude, in 2023, we should expect a safer environment for gaming as regulations will be much more clear and completely implemented, also the high dynamic of development on the USA market and most importantly increased gaming portfolio.

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Entain Provides Update on Current Trading and FY23 Guidance

Published

18 hours ago

September 26, 2023

Niji Narayan

Reading Time: 2 minutes

Entain plc has provided an update on current trading and FY 2023 guidance, as well as plans to update shareholders on the progress of ongoing actions to accelerate operational performance and drive shareholder value.

Current Trading

Post the summer, Online Net Gaming Revenue (NGR) has been mixed across the Group, but in aggregate, softer than anticipated. Q3 Online NGR growth is now expected to be up high single-digit percent, and down high single digit percent on a proforma basis. Key drivers include:

Adverse sporting results impacting sports margins during September
Group wide implementation of industry leading safer gambling measures and ongoing regulatory headwinds persisting longer than expected, particularly in the UK
Slower growth than expected in Australia and Italy
Good underlying Online growth (ex-regulatory impacts) as evidenced by further strong proforma growth in active customers across the quarter
Strong performance from recent acquisitions, particularly SuperSport in Croatia
Robust performance across Retail

BetMGM in the US continuing to perform well: on track to deliver positive EBITDA in the second half of 2023; FY2023 NGR at the upper end of $1.8-$2.0bn guidance; and the successful rollout of Single Account Single Wallet, as well as online sportsbook enhancements supporting strong start to the NFL season.

Entain now expect Group Online NGR for FY2023 to be up low double-digit percent with proforma NGR down low single digit percent. The company reiterate their expectations for FY2023 EBITDA to be in the range of £1.00bn-£1.05bn supported by robust operational controls.

Actions to Accelerate Operational Strategy and Performance

Over the last three years Entain has undergone a significant strategic transformation, improving the quality of earnings and aligning operations to ensure the Group is positioned as strongly as possible to deliver long term shareholder value.

Alongside the Q3 trading update on 2 November 2023, management will share more detail on how these actions are being implemented to accelerate performance and delivery, including:

A comprehensive market review focusing on long-term sustainable organic growth
The simplification of Group structures and operations to improve operational leverage and reduce costs
A plan for the migration of acquired businesses on to the Group’s industry leading technology platform
Optimising our capital allocation priorities
Progress on delivery of the Group’s Online EBITDA margin target of 30%

Jette Nygaard-Andersen, CEO of Entain, said: “We continue to see good underlying growth in our online business and are reiterating our EBITDA guidance for the year despite softer than expected revenue growth in Q3 and the ongoing roll-out of industry-leading safer gambling measures. We continue to attract more customers than ever before to enjoy our products and services. BetMGM remains on track to deliver positive EBITDA in H2 and a full year NGR performance at the top end of our expectations, and we are particularly excited about the product improvements that we are rolling out over the NFL season.

“We have made significant changes to the Group over the last three years. Our focus now is on accelerating the actions we are taking to drive sustainable organic growth, expand our margins, capitalise on the US opportunity and deliver long-term returns for our shareholders. We remain confident in our ability to deliver on the vast opportunities ahead of us, and look forward to sharing more detail about the changes that we are making alongside our Q3 trading update in November.”

Industry News

Holland Casino Identifies New Groningen Casino Site

Published

2 days ago

September 25, 2023

Niji Narayan

Reading Time: 2 minutes

Holland Casino has chosen Business Park Ter Borch as the new location for its Groningen casino. Holland Casino selected the location at the gateway to Groningen for its accessibility and construction opportunities. Business park Ter Borch, on the edge of the municipality of Tynaarlo, offers Holland Casino the best opportunities to build a casino that meets the company’s architectural and sustainability requirements. Moreover, the location at the gateway to Groningen is easily accessible for guests and there is ample parking.

CEO Petra de Ruiter said: “We are happy that the decision has now been made. If the Tynaarlo municipal council is as enthusiastic as the board of Holland Casino, we can enter the period of planning and construction. I’m looking forward to that and especially to the moment when the new Holland Casino Groningen is open. That is not only good news for our guests, but also for our employees.

“They will soon be able to optimally welcome guests from a new building and offer the hospitality that can be expected from us.”

Spatial planning councilor Jurryt Vellinga of the municipality of Tynaarlo said: “The location makes sense because of the good accessibility and the space that the business park offers. For us it is a sign that the municipality of Tynaarlo and the region are still popular for companies. This location offers employment opportunities and is a great boost for tourism in our municipality.”

Attention has also been paid to the former Holland Casino location on Gedempte Kattendiep in Groningen. The casino was destroyed in a fire in 2017, with Holland Casino operating a temporary facility since 2018.

“Holland Casino offers the municipality of Groningen every cooperation to ensure that something beautiful comes back to the city center. We are grateful to everyone involved for all the cooperation and support we have received in recent years. We are very grateful to Groningen and Tynaarlo for the efforts made to find a suitable location,” Ms. de Ruiter said.

The new branch of Holland Casino, Holland Casino Groningen, is expected to open in 2027.

Industry News

Maria’s Room Rebrands into Maria Ozawa Casino, Marking Third Year Anniversary Partnership with M88 Mansion

Published

2 days ago

September 25, 2023

Niji Narayan

Reading Time: < 1 minutes

Renowned international celebrity and businesswoman, Maria Ozawa, is commemorating a significant milestone in her partnership with Asia’s leading online gaming platform, M88 Mansion, as she celebrates her third year as Celebrity Partner.

A highlight of this celebration is the transformation of “Maria’s Room” into “Maria Ozawa Casino,” showcasing her growing influence within the M88 Mansion community and promising an enhanced and thrilling gaming experience for players, with Maria’s personal touch. The rebranding reflects Maria’s lasting impact and the exciting evolution of this partnership over the past three years.

Alan Wafer, Head of Commercial at M88 Mansion, said: “Maria Ozawa has been an integral part of the M88 Mansion family for three incredible years.”

Maria Ozawa said: “Being a part of M88 Mansion has been an amazing experience. I’m thrilled to see Maria Ozawa Casino succeed, as we offer players an enhanced gaming experience. It’s been a fantastic three years, and I can’t wait to see what the future holds.”

In line with her ongoing collaboration with M88 Mansion, Maria Ozawa will participate in the upcoming M88 Mansion-sponsored event, IT’S THE SHIP, Asia’s Largest Festival at Sea, from November 1-3, 2023, enhancing the event with her star presence.

Beyond the virtual realm, Maria Ozawa’s role as a Celebrity Partner extends to a tour across several countries, accompanied by press conferences, allowing the public and media to connect with her.

Maria Ozawa’s three-year journey with M88 Mansion has seen exceptional growth and collaboration. With the transformation of Maria’s Room into Maria Ozawa Casino and her engagement with players, the future of this partnership looks promising.